Insurance Business magazine Global 100
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account executive, Insurance Insight Inc
2008-2012
In top gear with Arch Insurance
We live in a culture that celebrates breakthroughs and podium finishes, but the reality is that those short moments in time are the sum of years of effort, practice, and incremental improvement.
Think the 10,000-hour rule popularized by Malcolm Gladwell in his bestselling book Outliers or the Japanese concept of kaizen. What the 10,000-hour rule is to the Beatles and kaizen is to Panasonic, so the powerful and yet eminently implementable idea of marginal gains is to Arch Insurance in Canada.
Building an electronics behemoth or creating one of the most popular bands of all time sound like unrealistic goals, but the genius of marginal gains is to break seemingly Herculean tasks into small steps.
Small changes for the better and minor improvements are far more palatable, actionable, and achievable for the average person than aiming for a distant podium finish – and making enough tiny improvements can, over time, push people to the front of the field to bring the podium within sight.
“[The concept is] making smaller, incremental changes that over time lead to enormous breakthroughs,” says Jean-Pierre “JP” Galipeault, president and chief regional executive (Canada) for Arch Insurance.
Galipeault, as an avid cyclist, is especially inspired by the example of British Cycling. Until around twenty years ago, British Cycling was so uncompetitive that European bike makers feared the bad publicity of any British riders using their equipment.
But after introducing a strategy of marginal gains, British Cycling first started to improve its performance and, after a while, came to dominate both the Olympics and the Tour de France.
“This very much resonated with me,” says Galipeault.
So when Arch Insurance introduced its brand promise of “Pursuing Better Together®” in 2021, Galipeault was drawn straight to the word “better.”
“By definition, it has no end – ‘better’ means always improving,” he says.
The culture that underpins much of this success is one that Galipeault is actively driving toward concepts such as continuous improvement, partly because they have helped him in his own career.
Now, Arch North America is introducing another initiative known as the “year of you” that Galipeault can co-opt into his potent formula for success.
“[It’s] a curated program designed to approach career exploration and growth for colleagues from a variety of different angles,” he says.
The multi-pronged initiative will allow Galipeault to be very intentional about the career and skills development of the Arch team through a series of goal-setting exercises, “stretch assignments,” and specific skill development.
If stretch assignments and team goal-setting sound more like exercises a cycling team would engage in than an insurer, Galipeault is more than happy to run with the parallels and adapt it to his vision.
“We want to build a culture of coaching where we're putting some resources into training our leaders to ensure that this feedback loop with our colleagues and our employees really underpins the goals established through the year of you,” he says.
The program aims to benefit Arch’s trading partners by continuing to bring them value in the face of changing market conditions.
“We're challenging ourselves to continually refresh our value proposition defining how we bring value to our trading partners.”
This approach recognizes that Arch has served its client base well over the last few difficult years, but that the new challenges of today will necessitate constant recalibration to produce the same good results.
“The theory is the solutions our brokers needed in 2020 and 2021 are different from the solutions they need in 2023, so we're being deliberate about that process, and we believe that's how we will create value for our trading partners in 2023 and beyond,” says Galipeault.
Like a modern racing bike, Arch has several other components that keep the wheels turning in pursuit of this overall goal. These focus on making decisions data-driven, building scalable and efficient operations, and leveraging engaged employees.
The post-pandemic world is awash in raw data. But converting this information into a useful format that informs action and benefits the bottom line for clients is necessary to create forward momentum for insurers like Arch.
“We want to get that information into the hands of our decision-makers, so that we can be more responsive and more decisive,” says Galipeault.
“I think it also gives us another tool [that provides] a bit of heft around new product development.”
Building scalable and efficient operations centers around the desire to provide customers with the same high levels of service regardless of how quickly, or how big, they grow.
“We've tripled our top line since 2018 – with that comes the need to ensure that our operations are keeping up with the top-line success we have,” says Galipeault.
Part of this drive is continuing to modernize by automating processes where possible.
The final pillar, keeping employees engaged, is key to ensuring that Arch’s value proposition remains current and relevant in a changing market. Galipeault sees goal setting as the main component.
“We want to give [employees] the tools, resources, opportunities to achieve those goals.”
When envisaging what kind of a company culture will work best to help employees set and achieve goals, Galipeault often imagines the kind of firm that he himself would have enjoyed working at earlier in his career.
He can imagine this company from a variety of angles. With experience in claims, as a broker and in various underwriting positions before entering management, he is uniquely qualified to understand how the different parts of the Arch enterprise work together.
“Having done a little bit of everything, I think, gives me such a broad perspective on the industry.”
This versatility in perspective, combined with the powerful ethos of marginal gains, sets up Arch for a culture of continuous improvement within its corporate DNA, enabling employees to develop their careers and provide service that holds its value through markets thick and thin.
“We feel like the platform we have today is such a great jumping-off point for what we're trying to achieve in 2023 and beyond,” says Galipeault.
With his eyes on the horizon, that future is one of incremental gains to allow continuous performance in top gear.
Spotlight
Galipeault has responsibility for the people and culture of Arch Insurance in Canada.
The company is a rapidly growing speciality player in the commercial property and casualty space, with a large footprint in management and professional liability, and strong offerings in lines such as surety and warranty and lender solutions.
It’s done well over the pandemic, breaking away from the pack despite the tough terrain, and is looking to continue the momentum.
“We've been able to really transform our business over the last four years – notably, in our ability to step in and provide solutions to the marketplace where there were some serious needs and voids of capacity,” says Galipeault.
Arch Insurance North America is part of a global insurer offering superior coverage and service. We participate in specialty lines in which the talent and knowledge of our employees are a competitive differentiator. We serve North America from offices in the United States and Canada, providing superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. With 20 years of operating history and strong financial ratings, our track record remains solid.
Company Profile
Over 5,800
Number of global employees
Over 60
Number of offices worldwide
$11.9bn
net premiums written
$16.3bn
Gross premiums written
$16.7bn
Total capitalization
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
Years of Experience
15
Tenure IN current position
6 months
FUN Fact
When he's not working, you'll find JP riding his bike around Ontario
Jean-Pierre “JP” Galipeault
President and chief regional executive (Canada)
Arch Canada is leveraging the power of incremental improvement as the catalyst to meet the ever-changing needs of its trading partners and insureds
Read on
“We've been able to really transform our business over the last four years … and provide solutions to the marketplace where there were some serious needs and voids of capacity”
JP Galipeault, Arch Insurance
“We're challenging ourselves to continually refresh our value proposition defining how we bring value to our trading partners”
JP Galipeault, Arch Insurance
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Insurance Business magazine Global 100
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
In top gear with Arch Insurance
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
Galipeault, as an avid cyclist, is especially inspired by the example of British Cycling. Until around twenty years ago, British Cycling was so uncompetitive that European bike makers feared the bad publicity of any British riders using their equipment.
But after introducing a strategy of marginal gains, British Cycling first started to improve its performance and, after a while, came to dominate both the Olympics and the Tour de France.
“This very much resonated with me,” says Galipeault.
So when Arch Insurance introduced its brand promise of “Pursuing Better Together®” in 2021, Galipeault was drawn straight to the word “better.”
“By definition, it has no end – ‘better’ means always improving,” he says.
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
If stretch assignments and team goal-setting sound more like exercises a cycling team would engage in than an insurer, Galipeault is more than happy to run with the parallels and adapt it to his vision.
“We want to build a culture of coaching where we're putting some resources into training our leaders to ensure that this feedback loop with our colleagues and our employees really underpins the goals established through the year of you,” he says.
The program aims to benefit Arch’s trading partners by continuing to bring them value in the face of changing market conditions.
“We're challenging ourselves to continually refresh our value proposition defining how we bring value to our trading partners.”
This approach recognizes that Arch has served its client base well over the last few difficult years, but that the new challenges of today will necessitate constant recalibration to produce the same good results.
“The theory is the solutions our brokers needed in 2020 and 2021 are different from the solutions they need in 2023, so we're being deliberate about that process, and we believe that's how we will create value for our trading partners in 2023 and beyond,” says Galipeault.
While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members.
“I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them.
Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry.
“It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”
Spotlight
Galipeault has responsibility for the people and culture of Arch Insurance in Canada.
The company is a rapidly growing speciality player in the commercial property and casualty space, with a large footprint in management and professional liability, and strong offerings in lines such as surety and warranty and lender solutions.
It’s done well over the pandemic, breaking away from the pack despite the tough terrain, and is looking to continue the momentum.
“We've been able to really transform our business over the last four years – notably, in our ability to step in and provide solutions to the marketplace where there were some serious needs and voids of capacity,” says Galipeault.
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
“We've been able to really transform our business over the last four years … and provide solutions to the marketplace where there were some serious needs and voids of capacity”
JP GALIPEAULT, ARCH INSURANCE
“We're challenging ourselves to continually refresh our value proposition defining how we bring value to our trading partners”
JP GALIPEAULT, ARCH INSURANCE
Years of Experience
15
Tenure IN current position
6 months
FUN FACT
When he's not working, you'll find JP riding his bike around Ontario
Karen Adams
President and CEO at Fundserv
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
Share
Share
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
In top gear with Arch Insurance
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
Galipeault, as an avid cyclist, is especially inspired by the example of British Cycling. Until around twenty years ago, British Cycling was so uncompetitive that European bike makers feared the bad publicity of any British riders using their equipment.
But after introducing a strategy of marginal gains, British Cycling first started to improve its performance and, after a while, came to dominate both the Olympics and the Tour de France.
“This very much resonated with me,” says Galipeault.
So when Arch Insurance introduced its brand promise of “Pursuing Better Together®” in 2021, Galipeault was drawn straight to the word “better.”
“By definition, it has no end – ‘better’ means always improving,” he says.
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
If stretch assignments and team goal-setting sound more like exercises a cycling team would engage in than an insurer, Galipeault is more than happy to run with the parallels and adapt it to his vision.
“We want to build a culture of coaching where we're putting some resources into training our leaders to ensure that this feedback loop with our colleagues and our employees really underpins the goals established through the year of you,” he says.
The program aims to benefit Arch’s trading partners by continuing to bring them value in the face of changing market conditions.
“We're challenging ourselves to continually refresh our value proposition defining how we bring value to our trading partners.”
This approach recognizes that Arch has served its client base well over the last few difficult years, but that the new challenges of today will necessitate constant recalibration to produce the same good results.
“The theory is the solutions our brokers needed in 2020 and 2021 are different from the solutions they need in 2023, so we're being deliberate about that process, and we believe that's how we will create value for our trading partners in 2023 and beyond,” says Galipeault.
While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members.
“I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them.
Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry.
“It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”
Spotlight
Galipeault has responsibility for the people and culture of Arch Insurance in Canada.
The company is a rapidly growing speciality player in the commercial property and casualty space, with a large footprint in management and professional liability, and strong offerings in lines such as surety and warranty and lender solutions.
It’s done well over the pandemic, breaking away from the pack despite the tough terrain, and is looking to continue the momentum.
“We've been able to really transform our business over the last four years – notably, in our ability to step in and provide solutions to the marketplace where there were some serious needs and voids of capacity,” says Galipeault.
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
Years of Experience
15
Tenure IN current position
6 months
FUN FACT
When he's not working, you'll find JP riding his bike around Ontario
Karen Adams
President and CEO at Fundserv
Career highlight
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
“We've been able to really transform our business over the last four years … and provide solutions to the marketplace where there were some serious needs and voids of capacity”
JP GALIPEAULT, ARCH INSURANCE
“We're challenging ourselves to continually refresh our value proposition defining how we bring value to our trading partners”
JP GALIPEAULT, ARCH INSURANCE
IN Partnership with
In Partnership with
In Partnership with
2008-2012
2013-2015
2015-2019
2019-2023
2023-PRESENT
2023
account executive, Insurance Insight Inc.
2008-2012
AVP, warranty & lender solutions, Arch Insurance Canada Ltd.
2013-2015
vice president, specialty consumer programs, Arch Insurance Canada Ltd.
2015–2019
chief regional executive, Arch Insurance Canada Ltd.
2019-2023
president & chief regional executive, Arch Insurance Canada Ltd
2023-PRESENT
recognized on the Insurance Business Global 100 2023 list
2023
Milestones
A coaching culture
Data, scale, and engaged employees
A coaching culture
Data, scale, and engaged employees
A coaching culture
Data, scale, and engaged employees
Published 21 Jun 2023
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Copyright © 2023 KM Business Information Canada Ltd
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CA
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Contact us
About us
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Terms & conditions
People
Copyright © 2023 KM Business Information Canada Ltd
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
CA
Copyright © 2023 KM Business Information Canada Ltd
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
(as of December 2022)
(as of December 2022)
(as of December 2022)
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